At the present time tools utilizing very hard and abrasion resistant materials are known in the art. For example, carbide punches and dies are known in the art. One form of carbide punches and dies utilizes carbide only. The disadvantage of this form is in the machining costs of carbide which must be ground with a diamond wheel to the final configuration. A further disadvantage of the all carbide punch or die is the basic cost of carbide which runs approximately 5-6 times more than that for tool steel. Thus, not only are all carbide punches and dies difficult to machine, but they are also relatively costly from a material standpoint. In addition the all carbide punches and dies are relatively brittle. This is also generally true for other very hard and abrasion resistant materials.
In order to overcome these disadvantages composite tools have been developed. For example, carbide tipped punches have been developed wherein a carbide extension is brazed or bonded to the leading end of a tool steel support, one such example being shown in FIG. 2, of U.S. Pat. No. 3,279,049. This form of design has proved to be unsatisfactory as the carbide tip has very little lateral stability. Thus, the entire carbide tip can be sheared off at the brazing or bonding line if substantial lateral forces are encountered, which lateral forces are frequently encountered during a punching operation. An example of a composite die is shown in U.S. Pat. No. 2,598,975. In this design the holder (which may be chisel steel) is provided with a tapered counterbore. The insert of harder material (which may be high speed tool steel, Stellite or tungsten carbide) is held within the counterbore by either a force fit or shrink fit. While this design has good lateral stability, it would transmit axial punch shock as the inner end of the insert bears directly against the holder. Additionally, as the sides of the insert through the full length of the bore contact contact the holder it would transmit radial shock.